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AZERENERGY PRESIDENT ACCUSES BARMEK AZERBAYCAN OF NON-FULFILLMENT OF COMMITMENTS

Barmek Azerbaycan does not fulfill its commitments under the contract signed with Azerenerji JSC on the purchase of electricity, Etibar Pirverdiyev, the President of Azerenerji, said on Friday.

According to Pirverdiyev, at present the debts of Barmek Azerbaycan to the JSC exceed 1.5trln manats ($326.8m). вЂњThe company did not paid for energy acquired in August. Barmek Azerbaycan purchased energy for 62bn manats ($13.5m) and sold in the amount of 90bn manats ($19.6m),вЂќ he noted.

Pirverdiyev also noted that Barmek Azerbaycan does not implement the commitments on reduction of technical losses.

"We appealed to the Cabinet of Ministers for the resolution of the problem and we expect appropriate measures will be taken. From January 2006 Barmek Azerbaycan is to pay 100% of the cost of energy supplied to Baku and set up repayment of debts for previous year,вЂќ Pirverdyev.

Meanwhile, Barmek Azerbaycan told Trend that in January to August the company paid to Azerenerji 307,408 ($67.4m) for the energy purchased. In compliance with the contract with the government the company paid for 75% and 35% of the energy supplied by Azerenerji.

The company said that they also implemented the payment for energy purchase in August. "The company paid the charges to Azereneji in cash (in accordance with the contract). The payments for energy made up 40,228bn manats in August," Barmek Azerbaycan announced.